Answer:
JOURNAL
Working Notes 1. Analysis Table Date Particulars LF Amt (Dr) Amt (Cr) Bank A/c \[\left( 30,000\times 20 \right)\] Dr 6,00,000 To Share Application A/c 6,00,000 (Being application money received on 30,000 shares) Share Application A/c Dr 6,00,000 To Share Capital A/c \[\left( 20,000\times 20 \right)\] 4,00,000 To Share Allotment A/c 85,000 To Bank A/c (WN1) 1,15,000 (Being application money transferred to capital account at the time of allotment and the excess adjusted in allotment and balance refunded) Share Allotment A/c \[\left( 20,000\times 45 \right)\] Dr 9,00,000 To Share Capital A/c \[\left( 20,000\times 30 \right)\] 6,00,000 To Securities Premium Reserve A/c \[\left( 20,000\times 15 \right)\] 3,00,000 (Being allotment money due) Bank A/c Dr 8,15,000 To Share Allotment A/c (WN 2) 8,15,000 (Being the balance of allotment money received) Share First and Final Call A/c \[\left( 20,000\times 60 \right)\] Dr 12,00,000 To Share Capital A/c \[\left( 20,000\times 50 \right)\] 10,00,000 To Securities Premium Reserve A/c \[\left( 20,000\times 10 \right)\] 2,00,000 (Being final call money due) Bank A/c Dr 12,00,000 To Share First and Final Call A/c 12,00,000 (Being final call money received)
2. Amount to be Received at the Time of Allotment = Amount Due at the Time of Allotment - Money Received at the Time of Application Adjusted Towards Allotment = 9,00,000 ? 85,000 = Rs. 8,15,000 Or Shares Issued Shares Applied Shares Allotted Application Money Received Application Money Due Excen Money Adjusted at Allotment Refunded 20,000 30,000 8,000 1,000 1,60,000 20,000 1,40,000 45,000 95,000 \[\left( 1,000\times 45 \right)\] (1,60,000 ? 45,000 ? 20,000) 1,000 - 20,000 - - - 20,000 21,000 19,000 4,20,000 3,80,000 40,000 40,000 - (30,000 - 9,000) (20,000 ? 1,000) - - - (4,20,000 ? 3,80,000) - 85,000 1,15,000